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While on a business trip in February, Bob charged the following expenses to his company's credit card: meals $207, entertainment $168, and hotel $458. On March 1, Bob makes a payment of $247 and makes no other charges on this credit card. The bank that issues the card charges 1.5% interest per month. What is the balance due on April 1? $565.05 $642.37 - $845.50 $594.79

While on a business trip in February, Bob charged the following expenses to his company's credit card: meals $207, entertainment $168, and hotel $458. On March 1, Bob makes a payment of $247 and makes no other charges on this credit card. The bank that issues the card charges 1.5% interest per month. What is the balance due on April 1? $565.05 $642.37 - $845.50 $594.79

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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8. While on a business trip in February, Bob charged the following expenses to his company's credit card: meals $207, entertainment $168, and hotel $458. On March 1, Bob makes a payment of $247 and makes no other charges on this credit card. The bank that issues the card charges 1.5% interest per month. What is the balance due on April 1? a) $565.05 b) $642.37 c) $845.50 d) $594.79
Transcribed Image Text:8. While on a business trip in February, Bob charged the following expenses to his company's credit card: meals $207, entertainment $168, and hotel $458. On March 1, Bob makes a payment of $247 and makes no other charges on this credit card. The bank that issues the card charges 1.5% interest per month. What is the balance due on April 1? a) $565.05 b) $642.37 c) $845.50 d) $594.79
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